A BATTLE is brewing within the Bank of England as the nine people who decide Brits’ borrowing costs are at odds over the timing of interest rate cuts. The Bank yesterday held interest rates at 4.75 per cent amid rising fears that inflation is creeping higher again. 6 The Bank’s Governor, Andrew… Bank of England … Read more
HOPES that interest rates will soon start falling were dashed yesterday after an unexpectedly big increase in wages stoked inflation fears. Official jobs figures showed that wages rose by 5.2 per cent in the three months to October. 3 After the surge in wage growth, traders have now put a… Wage surge dashes hopes for … Read more
Britain on ‘recession watch’ after economy shrinks for second month in a row, experts warn …C0NTINUE READING HERE>>> BRITAIN is on “recession watch” after the faltering economy shrank for the second month in a row, experts say. Output contracted by 0.1 per cent in the four weeks before October’s Budget. 1 Experts say that the … Read more
Savers hit by ‘Grinch-style’ cuts as rates reduced on over 200 accounts …C0NTINUE READING HERE >>> SAVERS are being warned about Grinch-style cuts to returns as interest rates are being slashed on over 200 accounts, The Sun can reveal. Britain’s biggest banks, including Barclays, HSBC, Santander and NatWest, as well as the government-backed NS&I, are … Read more
Big online bank with 3.6million customers to AXE popular feature that could see them miss out on cash …C0NTINUE READING HERE >>> A HUGE online bank with 3.6million customers is set to axe a popular feature from all current accounts. Starling Bank is to stop paying all of its customers interest on their current account … Read more
Best first-time buyer mortgages where you can buy a home with just a £5k deposit …C0NTINUE READING HERE >>> IF you’re a first-time buyer then securing a mortgage is the first step onto the housing ladder. With rates dropping, first-time buyers are now paying a lot less in mortgage repayments than they were a year … Read more
UK inflation rate rises to 2.3% in October – what it means for your money …C0NTINUE READING HERE >>> THE UK’s rate of inflation has risen above the Bank of England’s target. The Office for National Statistics (ONS) said the Consumer Price Index (CPI) measured 2.3% in the 12 months to October. 1 The Consumer … Read more
High street banks offering ‘meagre’ savings rates as best and worst revealed …C0NTINUE READING HERE >>> SAVERS should ditch “meagre” rates at high street banks for better returns elsewhere. Experts have warned that the most competitive saving rates are no longer coming from the big banks you’d expect. Digital banks and building societies are now … Read more
Major mortgage lender admits it won’t pass on bank rate cut to customers unless they ASK …C0NTINUE READING HERE >>> MORTGAGE borrowers could overpay bills by hundreds of pounds as a result of a clause buried in the small print of a major lender, experts have warned. Homeowners on a tracker mortgage usually see their … Read more
UK economy grows as GDP rises 0.1% – what it means for your money …C0NTINUE READING HERE >>> THE UK economy has grown again with the latest data showing GDP rose in the third quarter. The Office for National Statistics (ONS) said gross domestic product (GDP) grew by 01% between July and September. 1 The latest … Read more